Master Investors

Wednesday, 9 April 2025, saw the U.S. impose a 104% tariff on China. Beijing retaliated and raised its levy on U.S. imports to 84%. Will this tit for tat erode globalisation, or had the world trade model started unravelling years before Trump took office the first time round? Financial economist Victor Hill talks to Sarah Lowther about the end-of-life psychology driving Donald Trump's executive orders and how equities aren't in the dire straits some commentators would have investors believe. Victor compares Trump's actions to the Nixon Shock of 1971 and argues that while tariffs could generate significant revenue, they could also lead to increased inflation and a potential recession. As usual there's a silver lining and threads of optimism as Victor concludes that despite market volatility, long-term US Treasury yields and safe-haven assets like gold and the Japanese Yen are showing resilience. For more investment and economics analysis plus inspiration please visit our website masterinvestor.co.uk.

Global Markets: What's Next? A Deep Dive into Macroeconomics, Markets & Future-Proof Investment Ideas. Join Wilfred Frost, renowned News Anchor at Sky News, in conversation with legendary investor and entrepreneur Jim Mellon at the Master Investor Show 2025. In this exclusive interview, Jim shares his sharp insights on the state of the US economy, upcoming political and market shifts, and how these developments are set to impact investors globally. They also explore emerging opportunities across asset classes and regions—from biotech to AI to alternative assets—offering actionable ideas and foresight into what the next big investment themes could be.

Donald Trump's 'new world order' may sound like a dystopian nightmare, but what impact are his flurry of executive orders and tariff policies having on the sleepless across the globe? Financial economist Victor Hill shares his insights with Master Investor's Sarah Lowther about how the U.S. President's administration is diminishing stock market performance and economic projections while cosying up to The Kremlin. Hill talks about 'Trump Whisperer' Keir Starmer and how the U.K. Prime Minister, his Chancellor of the Exchequer Rachel Reeves and Climate Change minister Ed Milliband are in precarious positions unlike Wes Streeting who is revolutionising the NHS with AI and data-led initiatives. No podcast is complete without an honourable Elon Musk mention and Hill outlines how the armies and mining geologists of the future may be transported to their destinations in Musk's SpaceX fleet. For more investment and economics analysis plus inspiration please visit our website masterinvestor.co.uk.

Financial economist Victor Hill dissects the flurry of executive orders that have defined the first few weeks of Donald Trump's second Presidential term. Is he instigating a trade war or re-opening global negotiations of the past? In this talk with Master Investor's Sarah Lowther, Victor makes a prediction about the conflict in Ukraine and explains why Elon Musk views the upcoming election in Germany as "the most consequential European election since the war". The United Kingdom's fiscal situation is laid bare as is the fate of the 'Tech Bros' with some commentators foreshadowing the 'twilight of the U.S.'s tech oligarchs'. For more investment and economics analysis plus inspiration please visit our website masterinvestor.co.uk.

2025 heralds the second Trump administration predicted to be transactional and strategic, but will it result in ceasefires relating to wars and economic inertia? In this lookahead to 2025, financial economist Victor Hill discusses the global outlook through the lenses of politics, financial markets and the evolution of Muskonomics as the billionaire is used as a litmus test for the EV revolution in China. In this conversation with Master Investor's Sarah Lowther he also delves into the U.K. economic landscape and discusses if there's a sequel to Rachel Reeves' Autumn budget and whether she'll release her fiscal corset. For more investment and economics analysis plus inspiration please visit our website masterinvestor.co.uk.

Greg Bailey, Co-founder and Executive Chairman at Juvenescence, joins Phil Newman for a chat at Investing in the Age of Longevity 2024. Highlighting 2025 as an inflection point for both Juvenescence and the industry as a whole, Greg outlines some of his company's assets as well as the progress made with getting therapeutics into clinical trials. He also looks back at the longevity investment marketplace, and why now is a golden opportunity for investors to get onboard. Summarising Juvenescence's approach as a mix of business models, Greg shares his view on the potential provided by the consumer marketplace. For more investment and economics analysis plus inspiration please visit our website masterinvestor.co.uk.

Kevin Slawin, M.D., Founder and CEO at Eos SENOLYTIX, Greg Bailey, Co-founder and Executive Chairman at Juvenescence, Deepankar (Deep) Nayak, CEO at Deep Longevity, and Dr. Emil Kendziorra, Founder and CEO at Tomorrow Bio, join Phil Newman for a panel discussion at Investing in the Age of Longevity 2024. In their chat, participants answer questions from the audience, and share their views on the envisaged timeline for blockbuster aging therapeutics, as well as realistic overall life span expectations. For more investment and economics analysis plus inspiration please visit our website masterinvestor.co.uk.

Invest. Invest. Invest. Taxation. Taxation. Taxation. Is this the mantra and the reality of the Labour government's first budget in almost fourteen years? Financial economist Victor Hill explains whether the current economic climate and the new Chancellor's measures will reanimate growth in the UK against the country's debt to GDP ratio of over 100%. Hill calculates that by the end of the decade, the U.K. will still be rumbling along with a growth rate of around 1.2 to 1.4% which he says is not disastrous. What may put a spanner in the works for UK exporters though is another Trump presidency which has a fondness for tariffs on non-US made products. While Rachel Reeves' budget is still being scrutinised, Hill says the market expects more details to come about the measures and headline statements. The Bank of England has capitulated on its interest rate predictions before and time will tell if Reeves, as a former Bank of England economist, will do the same. For more investment and economics analysis plus inspiration please visit our website masterinvestor.co.uk.

Brusk Korkmaz is keen to stress that the company he started in his spare bedroom 16 years ago is very much the shareholders company now. The business is Hercules Site Services (LON:HERC) and since 2008 the tech enabled construction company has grown every year with the exception of the year when Covid impacted businesses globally. Korkmaz is delighted with the recent financial milestone the business has achieved – that of the anticipated £105 million turnover for FY24 which is well ahead of market expectations. "We can confidently say that we are well placed to continue growing organically each year," says Korkmaz. Hercules supplies both labour and white collar staff to blue chip clients in the infrastructure and construction sectors. It also has a construction services division where it takes on civil projects in the water industry and has a much-used excavator hire service solution. Significantly it has novel and modern methods for recruitment. It opened its Construction Academy at the beginning of the year to upskill existing and train up new entrants and has a recruitment app which alerts workers to available opportunities. With some £775 billion earmarked for investment in the infrastructure and construction sectors over the next 10 plus years, Hercules is positioning itself for opportunity and to help it grow organically and by acquisition it has successfully raised £8 million for that purpose. For more investment and economics analysis plus inspiration please visit our website masterinvestor.co.uk.

Onward Opportunities Limited (LON:ONWD) was launched in March 2023 and just over one year later the investment company was crowned IPO of the Year at the 2024 Small Cap Awards. Lead Fund Manager Laurence Hulse can only speculate why his company won the accolade. "We did what we said we would do. We raised some money. We invested it well and we've grown as a business and created value." Onward's purpose, says Hulse, is to aggregate a portfolio of investments, an eclectic mix of ideas and opportunities that could generate a lot of value. Indeed over the past twelve months the net asset value of the portfolio has increased by some 20%. "The return we generated last year was in quite a severe bear market for AIM. This year things are looking a little bit more helpful and robust and reducing political uncertainty, I suspect, again, is helpful. There's a very, very healthy pipeline of opportunities to go for in H2. We've delivered 9% so far in the first six months of calendar year ‘24. Our aim is to try and do the same again in H2." Hulse talks about the ‘dawn and dusk' ethos of the company's investment strategy giving portfolio constituent the housebuilder Springfield Properties as an example. After trading at "a deep discount to book value after a tough couple of years for house building, now we think that sort of journey is over", says Hulse. "Perhaps the shares are overlooked and offer value. So far that's been the case. The shares are up about 30% from where we bought them and still trade at a pretty clear discount to book value." For more investment and economics analysis plus inspiration please visit our website masterinvestor.co.uk.

Created by the 2023 merger of finnCap and Cenkos Securities, Cavendish Plc's (LON: CAV) remit as the U.K.'s newest investment house is a large one. Joint chief executive Julian Morse describes the business as a 'full service investment bank'. "We do everything from the equity capital market side. Look after companies as their brokers, help them raise money, produce research on all of our companies and others in the market, financial advice, but also go right across the spectrum to working with private companies." In addition to Cavendish having highly regarded M&A and debt advisory departments, it also has one of the AIM market's largest equity capital markets tech team. Tech in all its forms of MedTech, FinTech, MediaTech ad infinitum is one sector that contributes to the myriad small-cap growth companies that are the backbone of the U.K. economy and the ones that Cavendish is keen to support. Cavendish is however firmly sector agnostic with a laser like focus on supporting small and medium enterprises. The ones that Morse says "foster innovation, entrepreneurialism and effectively give the economy a huge boost". Cavendish itself fosters not just innovation, but loyalty keeping all of its client facing personnel and retaining 'all of that talent' after the combination of the two brokers which Morse describes as a true merger. The company is now hiring as it expands 'cautiously'. By virtue of the business it is and as a listed entity, Cavendish is chasing results deploying "a platform that can be profitable, even in very tough markets". Cavendish has been nominated as Broker of the Year in the 2024 Small Cap Network awards. For more investment and economics analysis plus inspiration please visit our website masterinvestor.co.uk.

As the world's first listed space tech fund, Seraphim Space Investment Trust has a first mover advantage in a sector that is starting to get crowded. Private equity, sovereign wealth funds and climate-related funds are now appreciating what Seraphim had predicted years ago in that space tech provides the utilities required for sustainability, digitisation, climate protection and national defence. Managing director and chief executive Mark Boggett says with its 126 strong space tech company portfolio Seraphim is "the most prolific and most active investor in the space market". He talks about how economies are intrinsically linked to space related activities. "If you were to switch off the satellites", he says, "the loss to the U.K. over seven days would be $7 billion." Boggett says the industry globally is worth $450 billion a year, and a few of the companies in Seraphim's portfolio have already achieved single digit billion dollar valuations and "there's plenty of scope for them to be valued in tens of billions and beyond during the course of the next few years and we believe that there is evidence they are heading in that direction". He and his team aspire to, and are accustomed to big numbers and big concepts. Chairman Will Whitehorn was a founding member of Virgin Galactic and advisor to Sir Richard Branson as was Seraphim's Richard McCall. The roll call of entrepreneurial greats is a force that is strong within the company and includes Maureen Haverty, who was COO at space startup Apollo Fusion that was acquired for $145M. For more investment and economics analysis plus inspiration please visit our website masterinvestor.co.uk.

With economic indicators suggesting the U.K. isn't in as dire a condition as predicted, inflation tamed and the possibility of an interest rate cut just who are the beneficiaries? In this Master Investor webinar, Jonathan Davis talks to Sarah Lowther about how a reduction in the Bank of England's base rate could provide a fillip to the stock markets as it offers relief to companies with stretched balance sheets and stimulates the property market. They discuss the perils of elevating fund managers into rock stars and unpick both the open-ended funds and investment trusts that are doing well and the renewables vehicles on course for a rebound. Davis calls out JP Morgan's Global Growth & Income Trust, Greencoat UK Wind and Bluefield Solar Income Fund as investments that have provided solid returns. "I wouldn't be surprised if you buy them and own them, you're going to get something like nine or ten percent compounded return over a period of years," says Davis who reminds investors that at the same time "You're doing something for the country. You're doing something for climate change." Davis suggests the second quarter of 2024 may not see an extension of the optimism that has buoyed UK markets so far this year. He does though encourage adopting a long-term strategy to combat any short-term frothiness in stock exchanges. For more investment and economics analysis plus inspiration please visit our website masterinvestor.co.uk.

EnSilica Plc's (LON: ENSI) aim is to be recognised as Europe's leading ASIC supplier. ASIC is the acronym for Application Specific Integrated Circuits which helps the analog world marry with the digital. ASICs currently represent approximately seven percent of a silicon chip market forecast to grow to a trillion dollars by 2030. Within that space EnSilica customises ASICs for customers, and the bespoke benefits include better data security and supply chain resilience, which in a supply chain challenged world is a huge bonus. For more investment and economics analysis plus inspiration please visit our website masterinvestor.co.uk.

The fifteen acquisitions that Trident Royalties Plc (LON:TRR) has made in just over three years has been described as a "blistering pace" by its chief executive Adam Davidson. Positioned in the resource sector, Trident acquires royalties in mining companies, and in doing so is entitled to a percentage of generated revenue. "The mining royalty sector is not tiny,' says Davidson. "It's $80 billion in aggregate market cap of mining companies around the world." While other royalty companies focus mainly on gold, Davidson realised there was a gap in the market for "a multibillion-dollar market cap diversified mining royalty company that's got iron ore and copper and zinc as well as gold." Trident is building a pure diversified royalty business. This year it's made five acquisitions across copper, gold, silver, and mineral sands and Davidson is wanting to add nickel and zinc to the portfolio. "We're trying to come up with an index fund style exposure. You can get your exposure to real assets to mining commodities through your holding and Trident because we get a royalty exposure across the whole depth and breadth of the sector." With a robust register of institutional shareholders, the board is in alignment with its investors with directors buying shares when they can. The ultimate ambition according to Davidson is to build more scale within the portfolio and announce an inaugural dividend "when we can put in place a policy that's progressive." For more investment and economics analysis plus inspiration please visit our website masterinvestor.co.uk.

In addition to expanding resources to accommodate its growing register of really large and regular customers, Cerillion PLC (LON:CER) has added Generative AI into its product set which gives clients more tools to monetise existing infrastructure. "It's going to be revolutionary across the board", says founder and chief executive Louis Hall, and he should know. He's been with the billing, charging and customer relationship management software solutions provider for over two decades and has been quick to adopt and provide initiatives for customers looking for economical solutions that can be deployed quickly. "A task that might take a good product marketing person, a couple of days sometimes can be completed within minutes", says Hall who recognises that AI is just as useful a tool for Cerillion itself 'in terms of productivity in developing and maintaining software'. With the most recent figures showing record financial performance, the GenAI offering is one device dedicated to protecting Cerillion's long-term recurring revenue growth. For more investment and economics analysis plus inspiration please visit our website masterinvestor.co.uk.

Manx Financial Group PLC (LON: MFX) celebrated a financial services first in October 2023 when its Conister Bank became the first Isle of Man bank authorised to accept deposits in the United Kingdom. Chief executive Douglas Grant says being awarded a UK Branch Banking Licence demonstrated regulatory recognition of the company's "really transparent operating business model based on sound economics". Expansion of the group's overall model says Grant will come through diversification. It will come from organic growth, acquisition and backing management teams. "We've got almost like an incubator kind of theory", enthuses Grant who references an FX business the company backed from 'zero' which now "makes a million pounds a year for us". Depositors also have the company's back with Conister Bank passing on interest rate increases to its savers. While that magnanimous gesture resulted in corporate margin contraction, more importantly it made for happy customers. For more investment and economics analysis plus inspiration please visit our website masterinvestor.co.uk.

In times of turbulence, the right investment decisions can make all the difference. Master Investor partnered with Netwealth to help you navigate the economic landscape with confidence and maximise your investment potential in 2024. Master Investor's Sarah Lowther is joined by Netwealth's Iain Barnes to share his expert insights and perspectives on the volatile financial markets as well as tools and resources you can use for your own wealth management going into 2024. For more investment and economics analysis plus inspiration please visit our website masterinvestor.co.uk.

Eleanor Davies, Dealflow Steward at VitaDAO, Alex Colville, Co-founder and General Partner at age1, and Patrick Burgermeister, Expert in Life science Investing at Kizoo Technology Ventures, join Phil Newman, Editor-in-Chief at Longevity.Technology, for a panel discussion at Investing in the Age of Longevity 2023. In their chat, participants outline the investment strategies and business models of their respective funds in the longevity sector, as well as their expectations for 2024. Investing in the Age of Longevity 2023 was held on 16 November 2023. The masterclass featured presentations from scientists and business leaders at the cutting edge of the field, giving participants the inside track on the latest aging-related discoveries and investment opportunities. For more investment and economics analysis plus inspiration please visit our website masterinvestor.co.uk.

Dr Richard Marshall CBE, CEO at Juvenescence, Bill Kapp, Co-founder and CEO at Fountain Life, and Jörg Rieker, Founding Partner at Maximon, join Phil Newman, Editor-in-Chief at Longevity.Technology, for a panel discussion at Investing in the Age of Longevity 2023. In their chat, participants present the business models and product pipelines of their respective companies in the longevity sector, and give an update on their current fundraising efforts. Investing in the Age of Longevity 2023 was held on 16 November 2023. The masterclass featured presentations from scientists and business leaders at the cutting edge of the field, giving participants the inside track on the latest aging-related discoveries and investment opportunities. For more investment and economics analysis plus inspiration please visit our website masterinvestor.co.uk.

Not only will the next 12 months be "fascinating" for investors, but according to investment trust authority Jonathan Davis, the UK stock market could do 'quite well' mainly because it's cheap. While the word "cheap" may sound derogatory, buying low represents opportunity, and with 2024 being an election year in both the U.S. and the UK, investment opportunities may not ride on which parties are elected but what the 'voted in' can do to reinvigorate the economy. In his wrapping up 2023 conversation with Master Investor's Sarah Lowther, Davis suggests that the direction of interest rates will continue to feature in market making strategies and in terms of his specialty field "things are looking quite good for the UK, wind and other renewable energy, renewable infrastructure trusts" with a hat tip to battery storage trusts, some of which have enjoyed gains of 30% recently. "It's a very good time to become an investment trust investor", says Davis. "Discounts have widened and that's created all sorts of opportunities. Looking forward, there is at least the hope of some better times ahead." For more investment and economics analysis plus inspiration please visit our website masterinvestor.co.uk.

Greg Bailey, Co-founder and Executive Chairman at Juvenescence, joins Phil Newman, Editor-in-Chief at Longevity.Technology, for a chat at Investing in the Age of Longevity 2023. Highlighting the importance of preventitive medicine in the healthcare sector, Greg gives his own estimate of how the longevity space is going to develop over the next five years. He also touches on the industry's focus on regulation, and gives advice on how private investors can participate in the longevity space. Having explained the Juvenescence model in more detail, Greg also gives an outlook on the company's product range in 2024. For more investment and economics analysis plus inspiration please visit our website masterinvestor.co.uk.

After years of cheap money and low interest rates, Master Investor's Jonathan Davis describes the year so far as a "reckoning postponed", and while he is gloomy about the markets he talks about the very much alive investment opportunities that exist. Greencoat UK Wind (LON:UKW) is one such opportunity. "It has an inflation linked yield commitment which it's going to keep", says Davis who explains that while there's a lot of issues around wind power, "that's actually a positive because the worse the conditions are at the moment in wind power, the more likely you are to make money out of it when supply and demand comes back into balance". Davis also says Japan and the yen look very interesting with the currency being "very, very weak" which is its historic behaviour before financial crises. For more investment and economics analysis plus inspiration please visit our website masterinvestor.co.uk.

The Artisanal Spirits Company (LON: ART) creates and sells what it describes as "outstanding limited edition whiskies and experiences around the world." It does so primarily through its Scotch Malt Whisky Society established some 40 years ago. Crucially, Artisanal is not a distillery or a primary producer. It buys from a huge range of distilleries and has just bottled from its 157th malt whisky distillery. Chief Executive Andrew Dane says Artisanal's space within the global whisky market is in the ultra-premium price point of typically over £40 a bottle. "That part of the market is really significant and growing. It's over $8 billion and three quarters of that global market is in the markets in which we already have a presence." The business is globally diversified with a recent franchise opening in South Korea attracting 300 members in 90 minutes. Ultimately, Dane says the business is "about creating a highly profitable, highly cash-generative global premium spirits group, and we look to expand the ways that we can reach a broader audience, while keeping the society at the core of what we do." For more investment and economics analysis plus inspiration please visit our website masterinvestor.co.uk.

In Conversation with Sam Volkering, Editor of The Crypto Handbook. The move towards more digital assets is “inevitable,” says Sam Volkering. The amount of physical cash in circulation in the U.K. is a mere 4% and society is becoming more comfortable with Bitcoin as a new form of money. With its many gatekeepers and administrative demands on users, traditional finance doesn't work argues Volkering. Bitcoin on the other hand is a new democratised digital asset that is inclusive for everybody. It's many things says Volkering. “It's digital gold. It trades like a stock. It's money.” There's a lot more to this wider crypto ecosystem than just the price of Bitcoin says Volkering, and it's one that is developing and expanding and growing and providing opportunities for people. “What people will start to hear a lot more about in the next 12 months is the tokenization of assets. Companies tokenizing their assets, funds tokenizing their assets, where and how things were exchanged and traded.” In this video Volkering talks about how investors can buy, hold, own, sell and trade crypto directly and indirectly. A free eBook of Volkering's The Crypto Handbook is available on the Harriman House store (www.harriman-house.com/cryptohandbook). For more investment and economics analysis plus inspiration please visit our website masterinvestor.co.uk.

August 2023 saw ZOO Digital Group plc (LON:ZOO) updating investors about a fourth successive year of double digit revenue growth, margin improvement and record pre-tax profitability. The company provides services to the entertainment industry including large streaming companies and other organisations that create content such as feature films and TV series. With its proprietary cloud-based software 'ZOO' provides myriad services to its customers including subtitling and soundtrack dubbing which it does so in 80 languages. Chief Executive Stuart Green and Chief Financial Officer Phillip Blundell tell Master Investor's Sarah Lowther about the pain that is being created by screenwriter and actor strikes in the U.S., but are confident that they will "come out of it stronger". Irrespective of the industry-halting strikes, Green describes debt-free ZOO Digital as a disrupter "in prime position to be able to capitalise on new opportunities". New opportunities may come in the form of a potential acquisition in Japan home to the greatest proportion of non-English content that's consumed on Netflix, and the second largest territory in Asia after China. For more investment and economics analysis plus inspiration please visit our website masterinvestor.co.uk.

As equity markets recover from the shocks of 2022, Jonathan Davis and James Harries of Troy Asset Management, manager of the STS Global Income and Growth trust, discuss the role that global equity income can play in delivering reliable medium term returns. For more investment and economics analysis plus inspiration please visit our website masterinvestor.co.uk.

Cerillion plc (LON:CER) is a growth stock. It's recognised as such by the many long-term ‘sticky' shareholders and by a city-respected panel who recently recognised founder and CEO Louis Hall as Executive Director of the Year. Hall owns more than 30% of the shares of the business that has seen "a quite steep rise in growth in share price within the last few years." That 'quite steep rise' is a seven-fold increase over the past five years. The company at a simplistic level provides enterprise software to telecoms businesses and it's doing well at attracting new customers and keeping them. Hall is proud of his team's efforts. "One of the things that we work very hard at is bringing onboard more of these larger customers and doing some larger, all-inclusive deals. We've gone from a business that ten years ago was selling perpetual software licenses and 20% maintenance support to a software service business selling quite large typically five-year, software or service deals that encompass license support, hosting a solution, managing the solution. And that's a much bigger stickier long-term recurring revenue scenario." The ambition is simple. "We have to keep working at planning up the value chain ladder and continuing to win deals with bigger, bigger customers, bigger deals." For more investment and economics analysis plus inspiration please visit our website masterinvestor.co.uk.

In this month's Master Investor cogitation, Jonathan Davis and Sarah Lowther discuss whether the AIM market is suffering due to predictions of an impending Labour government and despite a plethora of bad news investor confidence is actually returning. Davis considers the plight of indebted U.K. water companies using the Warren Buffett analogy of "You know who's been swimming naked when the tide goes up." He also references the third-party casualties of those with exposure to those utilities. He shares his conversation with fund manager James Henderson who suggests now is the time to load up on mid and small cap shares. Lowther meanwhile shares her delight about Sam Volkering's just released "The Crypto Handbook" and how she's no longer afraid of a world she's long been in denial of. The pair agree on the market adage that the value of shares can go down as well as up, and this lesson is learned the hard way by fools and the foolhardy. "What's the best way to become a millionaire? says Davis. "To start with a billion and invest in an airline stock." For more investment and economics analysis plus inspiration please visit our website masterinvestor.co.uk.

In times of turbulence, the right investment decisions can make all the difference. For our June podcast, Master Investor have partnered with Netwealth to help you navigate the uncertain economic landscape with confidence and maximise your investment potential. Master Investor's Sarah Lowther is joined by Netwealth's Gerard Lyons and Matt Conradi to share their expert insights and perspective on the volatile financial markets as well as the tools and resources you can use for your own wealth management. For more investment and economics analysis plus inspiration please visit our website masterinvestor.co.uk.

With global uncertainty has come a renewed interest in the precious metal and we discuss the gold outlook with four companies in this space. On 24 May 2023, Master Investor hosted four gold companies with exciting projects in development to help keep our investors ahead of the curve. Participants: Charlie Morris, Founder and Chief Investment Officer at ByteTree.com Alexander Scanlon, CEO of Barton Gold Harry Anagnostaras-Adams, Executive Chairman of KEFI Gold + Copper Natalie Bellis, CEO of Seventy Ninth Group Mark Child, CEO of Condor Gold For more investment and economics analysis plus inspiration please visit our website masterinvestor.co.uk.

In this month's Master Investor podcast, Sarah Lowther and Jonathan Davis disagree about the direction of the markets. Lowther, at a grass roots level, sees market sentiment on the up while Davis cites renowned financial strategist Russell Napier who errs caution due to the global accumulation of debt. Napier's thoughts are shared by United States Secretary of the Treasury Janet Yellen who suggests the U.S. government will run out of money at the beginning of June, and if that happens Davis says June will be 'a lively month'. Davis shares Napier's thoughts on debt eradication and why ‘the right kind of equities' could be a solution. Davis's own solution is 'rack up your risk tolerance', or 'do something less frenetic than watching the markets go up and down every day' which Lowther interprets as permission to study to become a vet. For more investment and economics analysis plus inspiration please visit our website masterinvestor.co.uk.

The electric vehicle economy is accelerating at full throttle, and as with all supply and demand there comes investment opportunities. Emily Liu, Associate Director of Research at Hybridan talks to Master Investor's Sarah Lowther about the regulatory stimulus driving the sector and the companies assisting the transition to clean tech and net zero decarbonisation ambitions. Liu also talks about the recycling enterprises at the end of the value chain which are just as essential as the critical mineral explorers at the beginning. She talks about why 80% of UK-made vehicles are exported and whether Cornwall could be at the heart of the EV economy in the U.K.. For more investment and economics analysis plus inspiration please visit our website masterinvestor.co.uk.

In their monthly gossip about the markets and dominant actors puppeteering the investment stage, Master Investor's Jonathan Davis and Sarah Lowther consider whether it's worth following legacy advice about selling up in May and returning in October. May 2023 also coincides with the UK's first royal coronation in seventy years, so will this noble event invigorate the market? Davis suggests the coming month might be dull unless China invades Taiwan when the advice would be 'it's better to panic early', but 2023 as a whole he suggests could be shaped by the amount of debt being held by the US, UK and European governments. Davis and Lowther also talk about the highlights of the recent Master Investor Show, hoodwinking a young investment guru and the companies that are the gate keepers of 'affordable' and regulated alternative assets of the luxurious kind. For more investment and economics analysis plus inspiration please visit our website masterinvestor.co.uk.

Master Investor's Jonathan Davis and Sarah Lowther talk about why March 2023 was a mega merger month, and why there's so much consolidation in the broking sector and activity in the private equity space. Davis advises those with surplus income and the younger investor to consider venture capital trusts as they ‘essentially' give investors tax breaks. “They are very risky,” says Davis, “but they do provide a very tax efficient alternative for higher risk, smaller company investment.” With predictions of ‘more trouble to come' for the UK economy and investment landscape, Davis describes the economy as a head-scratching conundrum with the consumer demonstrating resilience against a backdrop of higher interest rates and energy prices. Jonathan and Sarah also wax lyrical about the state of Royal Mail, and columnist A N Wilson's dark childhood boarding school experiences which contrasted with the light of his father's eccentricity. For more investment and economics analysis plus inspiration please visit our website masterinvestor.co.uk.

Graham Rowan, Chairman of Beaufort Private Equity, interviews Jim Mellon ahead of the forthcoming Master Investor Show (this recording was made before the date of the show was changed to the 15th of April 2023 due to rail strikes). For more investment and economics analysis plus inspiration please visit our website masterinvestor.co.uk.

Jonathan Davis talks to the manager of the highly regarded £3.5 billion Evenlode Income fund about the markets and his favourite UK stocks. For more investment and economics analysis plus inspiration please visit our website masterinvestor.co.uk.

For more investment and economics analysis plus inspiration please visit our website masterinvestor.co.uk.

Master Investor's Sarah Lowther and Jonathan Davis discuss the investment themes that have started to materialise this year. With some equity market indices approaching or breaking through their 200 day moving averages, is this potentially a positive sign for the rest of 2023? Davis talks about the phenomenal success of passively managed funds over the past two decades, and names the active fund managers who deserve honourable mentions. Inflation in the UK is discussed. Will it return to the Bank of England's 2% target and why is BOE Governor Andrew Bailey eating humble pie? And discover why Davis says this is the year that the trip to the US should be a vacation destination and the Western Isles shouldn't. For more investment and economics analysis plus inspiration please visit our website masterinvestor.co.uk.

Glen Goodman interviews Hassam-Moussa Rawat, Co-Founder and CEO of revolutionary blockchain start-up Lingo, to find out how Lingo is using blockchain technology to create a token which enables real estate investment to deliver vacation rewards. For more investment and economics analysis plus inspiration please visit our website masterinvestor.co.uk.

Sarah Lowther and Callum Macpherson, Head of Commodities at Investec, discuss the outlook for Oil and Gas investors. This was recorded as part of Master Investor's Oil & Gas Webinar. For a full recording of the webinar please visit events.masterinvestor.co.uk. For more investment and economics analysis plus inspiration please visit our website masterinvestor.co.uk.

Master Investor's Sarah Lowther and Jonathan Davis tackle the stories and themes that defined the investment landscape of 2022 – a year that saw the return of double digit inflation and a war on the continent of Europe. The pair talk about the returns being made by investment trusts, the new wave of consolidation in the publishing industry, why you should worry if a company changes its name and whether we're experiencing a short term or serious bear market and how investors can thrive regardless. For more investment and economics analysis plus inspiration please visit our website masterinvestor.co.uk.

Phil Kent, manager of the  GCP Infrastructure investment trust, puts the case to Jonathan Davis in our latest professional investor Q and A.  For more investment and economics analysis plus inspiration please visit our website masterinvestor.co.uk.

Auxico Resources (CSE:AUAG / OTC:AUXIF) is one of the few companies in the world selling monazite, the essential carrier mineral for rare earth elements deemed critical for economic security. CEO and President Frederick Kozak explains the rare earth elements carried by monazite include the very difficult ones to produce and pronounce, and those of the highest value including praseodymium, neodymium, terbium, and dysprosium. Kozak says Auxico's contribution to the supply chain can help resolve what he calls an economic war with so many elements controlled and produced by the few. Via its sister company in the Democratic Republic of Congo, Auxico is diversifying the supply chain in a market that has 'massive demand'. At the same time, it is progressing a resource estimate for its Minastyc Property in Columbia and the processing of its tin tailings project in Brazil. For more investment and economics analysis plus inspiration please visit our website masterinvestor.co.uk.

Tamer Ozmen is the founder and CEO of innovative contemporary art investment platform, Mintus. Jonathan Davis speaks with him to find out how it works and what is in it for investors. For more investment and economics analysis plus inspiration please visit our website masterinvestor.co.uk.

In the second part of this hour long two-part Q and A, Jonathan Davis and Nick Train, co-founder of Lindsell Train discuss bear markets, recent performance and why he is as passionate about UK quoted companies as ever. For more investment and economics analysis plus inspiration please visit our website masterinvestor.co.uk.

In the first part of this hour long two-part Q and A, Jonathan Davis and Nick Train, co-founder of Lindsell Train discuss bear markets, recent performance and why he is as passionate about UK quoted companies as ever. For more investment and economics analysis plus inspiration please visit our website masterinvestor.co.uk.

With global uncertainty has come a renewed interest in precious metals in general, and gold in particular. In this podcast episode, Sarah Lowther discusses the gold outlook with major investor, Jim Mellon. For more investment and economics analysis plus inspiration please visit our website masterinvestor.co.uk.

Gone is the helicopter money. Gone is the quantitative easing that supported U.K. plc, the general public and retail investors. What is here is volatility and the challenges high inflation presents. Charles White-Thomson is chief executive of Saxo Markets UK, and he assures investors they can navigate this new economic paradigm not just by demanding more from their wealth managers but adjusting their own attitude to risk. "It's all about risk management and understanding that your portfolio has many gears. It is not just long only. It is not just driving in the fourth gear. There are many things that we can do in order to tackle what is a pretty challenging environment." White-Thomson says money can be made on the downside if there's portfolio diversification, and sage advice gleaned from those who have experience of emerging markets. He argues there are ways to 'play inflation' including investing in commodities and gaining exposure to water and agriculture - both important solution providers to an imminent food and cost of living crisis if the naysayers are to be believed. White-Thomson argues there is opportunity for the proactive and those who own their portfolio and don't fall into the moral hazard trap inadvertently created by central bankers. For more investment and economics analysis plus inspiration please visit our website masterinvestor.co.uk.

In the second part of this hour long two-part Q and A Jonathan Davis and Terry Smith, manager of the index-busting Fundsmith Equity Fund, discuss the fund's performance, why it was down sharply in the first half of 2022 after twelve consecutive years of positive returns, where it goes next and the future for its big tech and consumer holdings in particular. For more investment and economics analysis plus inspiration please visit our website masterinvestor.co.uk.

In the first part of this hour long two-part Q and A Jonathan Davis and Terry Smith, founder and CEO of Fundsmith, as outspoken as ever, discuss bear markets, parallels with the 1970s, central bank mistakes and likely future market direction.